STOCKHOLM, SWEDEN / ACCESSWIRE / September 27, 2022 / Bambuser AB (STO:BUSER)(FRA:5JL) New York - September 27, 2022 - Bambuser will power the 10.10 live stream festival organized by Coresight Research as the B2B livestream shopping platform partner. The festival this year is focused on showcasing livestreaming best practices to enhance engagement with consumers and create a repeatable new revenue stream for retailers, while giving back to charity.
10.10 is an annual, purpose-driven livestream shopping festival that connects consumers with brands and retailers to jump-start the holiday shopping season with special deals and exclusive offerings. Consumers will have the opportunity to donate to charity during the livestream, and a percentage of sales generated from the festival will be donated to the charity to support their mission. The festival takes place on 2022.10.10
The livestreaming e-commerce market has exploded over the last 12-24 months. Coresight Research estimates that in the US, the market will grow 82% year over year to $20 billion in 2022. This compares to a livestreaming ecommerce market size of $497 billion in China in 2022 (up 52% from 2021), demonstrating the tremendous potential of the market to exponentially expand. To capitalize on the burgeoning live shopping opportunity, brands and retailers need to offer valuable content, leverage internal staff and external talent to host events, and establish a live shopping strategy that takes into account platforms and frequency of sessions.
Deborah Weinswig, CEO and Founder of Coresight Research, said, 'Livestream shopping is a key component of our outlook for the future of retail. As brands and retailers face an uncertain economic environment following the pandemic, they are reinventing their business to stimulate demand and drive conversion. Cost-effective marketing channels such as livestream shopping and social commerce are ideal channels for brands and retailers to not only drive revenue, but also create deeper connections with their consumers, enhance brand and product education, reduce return rates and increase customer satisfaction.'
'We are proud to be part of the Coresight 1010 festival, which is such an important initiative for the US market, and to illustrate how Bambuser's B2B live shopping technology is a key component in the livestream shopping landscape. Since our launch in 2019 we have seen impressive growth in terms of adoption both from retailers and the end consumers. We firmly believe that giving back control to retailers over their brand perception, data collection and conversion by enabling them to stream to their own platforms will be crucial as this industry consolidates.' concludes Sophie Abrahamsson, President of Americas for Bambuser.
About Coresight Research
Coresight Research is a research and advisory firm specializing in retail and technology. Established in 2018 by leading global retail analyst Deborah Weinswig, the firm is headquartered in New York, with offices in London, Lagos, Hong Kong, Shanghai and Mangalore (India). The firm provides data-driven analysis and strategic advisory to clients including retailers, brands, enterprise technology companies, accelerators and more. In addition to being renowned for its breadth and depth of research, Coresight Research is known for its expertise in the China market, helping clients with market entry and cross-border e-commerce strategies. Coresight Research is also known for its Innovator Intelligence platform, consisting of a vast network of technology entrepreneurs that it actively cultivates through events, mentorship, and regularly updated report coverage. For more information, visit www.coresight.com.
About the 10.10 shopping festival
The 10.10 Shopping Festival Powered by Coresight Research® was launched in 2020 with participation from 100 retailers and brands, 13 charities, and 11 supporting partners. The primary goal was to provide retailers and brands a vehicle to give back to national charities and simultaneously connect with consumers. The Shopping Festival generated significant impressions on social media as well as robust media coverage including Barron's, Bloomberg News, CNBC, CNN, Good Morning America, New York Times, Progressive Grocer, USA Today, Wall Street Journal, Women's Wear Daily, and many more.
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Bambuser is a software company specializing in interactive live video streaming. The Company's primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm. Subscribe to Bambuser's press releases here.
SOURCE: Bambuser AB
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